RusAl invests $20 mln in Nigerian aluminum smelter

Russia’s United Company RusAl, the world’s largest aluminum producer, said on Thursday it had invested over $20 million in an aluminum smelter in Nigeria.
RusAl acquired a controlling stake in the Aluminum Smelter Company of Nigeria (ALSCON) in February 2007 and launched a large-scale modernization program at the enterprise, which had been idle for eight years. Modernization included the efforts to complete the enterprise’s construction and improve existing production technologies.
UC RusAl, which became the world’s largest aluminum producer after a March 2007 merger between RusAl, rival Sual and Swiss Glencore’s alumina assets, plans to invest about $150 million in the Nigeria facility in the next three years. The Nigerian smelter is expected to reach its designed capacity of 197,000 metric tons of aluminum annually by late 2010. (rian.ru)
ADVERTISEMENT
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.